How to record the payment from sales invoice

Accounting
1

Hi,
I have one sales receipt for 120, but the payment from bank is from paypal so the amount include this sales payment and other payment. when I tried log a payment, this transition can’t match to the bank transition as amount is not match. And then when I tried to spilt the amount but it still can’t link to the invoice as it will become the journal.
BR,
Mei

2

Essentially you need to treat PayPal as a bank account in its own right - create a “merchant” type bank account in QuickFile to represent your PayPal account.

When a customer pays you by PayPal then you mark their invoice as paid into the PayPal merchant account. If you buy something and pay for it with funds from your PayPal balance then you mark that purchase as paid from the PayPal merchant account.

Now when money moves from PayPal to your real bank account or vice versa you can simply tag this as a bank transfer from or to the merchant account as appropriate. The money in on your bank account isn’t new money coming into your business, the “payment from customer” happened when the PayPal payment hit your merchant account.

3

Hello @Mei720824

This support article may help.

https://support.quickfile.co.uk/t/handling-payments-from-merchant-accounts/8865

4

Are you using the separate PayPal merchant account? If so there will be typically be 4 transactions:
1 a payment in/out of the PayPal account for the full amount - tag that as the payment to/from the supplier
2 a transaction charge to PayPal - tag that as something like a bank charge
3 a transfer of full amount minus the transaction charge in the PayPal merchant account
4 a transfer of the same amount in the bank account payments are taken/made too - as configured in you PayPal account

Tag these last two as a transfer.
A note of caution: due to delays in when PayPal collect and deposit funds you may well see transaction 3 several days -or even weeks, before you see transaction 4. If you hold funds in PayPal and use those to pay out from and only draw down the excess occasionally then this will be even more obvious.
To avoid issues of inadvertently creating duplicate transfer records always tag the transfer that appears in your bank account and match this to the one in the PayPal account and not the other way round